The cost of energy has replaced Covid-19 as a top concern for UK businesses.

That’s according to a new survey by npower’s Business Energy Tracker which shows that nearly 77% of companies chose energy costs as their top concern for the next 12 months.

The recovery from the Covid-19 pandemic remains a worrying theme for 72% of businesses.

Within the ‘greatest energy-related concerns’, wholesale costs combined with market volatility is the biggest concern for half of the respondents, followed by security of supply (45%) and the overall impact on business (39%).

Interestingly, nearly nine-in-ten businesses anticipate the cost of energy to rise in the next year, with one-third saying it will “increase significantly” and more than half saying it will “increase slightly”.

When asked if enough was being done to support businesses, six out of ten businesses said they do not feel enough is being done to protect and support them in the face of soaring energy costs and market volatility.